credit cards for college students
October 10th, 2008 by kynduvmecredit cards for college students
Offers for credit cards for college students deserve close scrutiny!
Everyone knows that their credit rating can significantly impact their lives. A good credit rating results in better lending rates, when you need to apply for a loan and can even make a difference in your employability.
Just thirty years ago, credit card companies were handing out credit cards like candy. You’d receive credit card offers with low interest rates and a sky’s-the-limit line of credit. At the time, credit cards for college students was a primary target group. Such offers were mass mailed and all you needed to do was sign on the dotted line. Almost everyone jumped on the bandwagon, buying those desired items they couldn’t pay cash for, but could make a monthly payment. How convenient!
If you’re a college student and receive such offers of credit cards for college students, talk to your parents. See what their experience was, so many years ago. It’s likely you’ll hear that, when they ‘took advantage’ of their own credit cards for college students offers, they bit off more than they could chew. The generous lines of credit tempted many to live beyond their means. Eventually, the cardholder ended up with too many credit cards and just as many minimum payments they couldn’t come up with at the end of the month. The final result? The cardholder